Kyle Bass is the hedge fund investors that made a fortune betting the banks in the U.S. would collapse in 2008. Bass had a huge payday when he collected on that bet and he needs another payday like that one. Hayman Capital hasn’t been the darling that investors cozied up to a few years ago. Even though Kyle Bass continues to talk about the gold market, interest rates and a global recession, his hedge fund is not producing decent returns.
Hayman Capital is having a meltdown, and Bass believes he can recoup some of the losses by shorting pharmaceutical stocks, and by making questionable decisions that some people say border on unethical behavior. Kyle Bass hasn’t made many friends over the last three years. He turned four other hedge fund managers into enemies when he sided with Argentina when the country defaulted on debt bonds a few years ago. He upset consumers when he took General Motors side when the company installed faulty steering mechanisms in certain GM models. Even the widow of Chris Kyle, the American Sniper, thinks Bass and Hayman Capital use unethical investment tactics. But Bass keeps talking and the investors keep listening and waiting…….